Wilmington Savings Fund Society FSB Makes New $1.48 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Wilmington Savings Fund Society FSB purchased a new position in Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,007 shares of the company’s stock, valued at approximately $1,477,000.

Several other institutional investors also recently added to or reduced their stakes in SPOT. WCM Investment Management LLC grew its stake in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after purchasing an additional 102,786 shares during the period. State Street Corp grew its stake in Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares in the last quarter. FMR LLC increased its holdings in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Two Sigma Advisers LP raised its position in Spotify Technology by 19.0% during the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after purchasing an additional 156,300 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.7 %

Shares of NYSE:SPOT opened at $483.31 on Friday. Spotify Technology S.A. has a 52-week low of $185.37 and a 52-week high of $506.47. The stock has a market cap of $96.20 billion, a price-to-earnings ratio of 131.33 and a beta of 1.61. The business has a 50-day moving average price of $426.66 and a 200-day moving average price of $363.38.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, equities analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group increased their price target on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Evercore ISI raised their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their price objective on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Barclays upped their target price on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $429.96.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.